latinamerica
How's it going in Javier Milei's Argentina? Milei, Argentina's self-described libertarian president, notched his first legislative victory last week. Argentina's Senate passed a major omnibus bill, also known as the "Bases Law", that's been debated since February. It would further deregulate the labor market, privatize national industries, cut taxes for foreign companies investing in Argentina, and hand emergency powers to Milei. Because Milei's party controls seven out of 72 Senate seats, the bill only passed with a lot of compromise and a tie-breaking vote by the vice president, and it could...
Reason
Argentine President Javier Milei on Wednesday announced the layoff of an additional 50,000 state employees, advancing his effort to "reduce the state in half." The move comes as part of the president's ongoing strategy to cut public spending and reduce the national deficit. This latest round of cuts follows a March announcement in which Milei proposed slashing 70,000 jobs from Argentina's public sector work force, which employs approximately 3.5 million people. According to Infobae, 25,000 positions have been cut since March's announcement. As a result, public employees rejected the measure an...
Reason
Argentine authorities are working with El Salvador, a pioneering nation in bitcoin adoption, aiming to boost cryptocurrency adoption in Argentina. High-ranking officials from Argentina's National Securities Commission (CNV), the country's securities regulator, met with El Salvador's National Commission of Digital Assets on May 23 to discuss the use of cryptocurrencies, according to an official announcement by the CNV. The talks focused on El Salvador's experience in adopting bitcoin and its regulatory framework. "El Salvador has emerged as one of the leading countries, not only in the use of b...
Reason
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